Shenzhen BYD Daimler New Technology Co., Ltd., trading as Denza, is an automobile manufacturing company headquartered in Shenzhen, China, specialising in luxury electric cars and an equally owned joint venture between BYD Auto and Daimler AG. Founded in May 2010, as of late 2014 the company produces a single model with an all-electric range of up to 300 km (190 mi). The car was initially put on sale in select Chinese cities only.
|Headquarters||Shenzhen, Guangdong, China|
|Lian Yubo (CEO)|
|Owner||BYD Auto (50%)
Daimler AG (50%)
An invented name from the Chinese Tengshi (simplified Chinese: 腾势; traditional Chinese: 騰勢; pinyin: Téngshì), Denza roughly translates to "rising power and momentum". Alternative translations include "win power" or "winning circumstances".
On 1 March 2010, BYD Auto and Daimler AG signed a memorandum of understanding for the joint development of electric vehicles. That initial link-up led to the creation of a new, equal-ownership legal entity, Shenzhen BYD Daimler New Technology Co., Ltd., which was formally established on 27 May 2010 and received a business license from the Chinese state in March 2011. Its brand name, Denza, debuted in March 2012, and a new energy vehicle (NEV) concept car was first shown in April 2012 at the Auto China motor show in Beijing. It was expected that this product would be offered as a luxury car.
While its initial product was set to be launched in Beijing, Shanghai, and Shenzhen in September 2014, in June of that year the launch date was pushed back to late 2014, and the car debuted in December of that year.
In 2013, Denza was constructing its assembly plant in Pingshan, Shenzhen, which was set to have an annual capacity of 40,000 vehicles.
Successful sales may depend on subsidies provided by the Chinese government. The chairman of the Chinese co-owner of Denza expressed his hope that these would be in place by mid-2013, and many of the press releases posted on the Denza website concern subsidies. Prior electric car grants were in effect for only two years starting in 2010, but in September 2013 a scheme providing cash payments to buyers of all-electric and hybrid vehicles was established.
When it was launched in December 2014, purchasers of the car qualified for a RMB 78,000 subsidy and while the total subsidy on offer depends on location of purchase, no more than RMB 120,000 can be deducted. Subsidies also increase demand for the car in other ways, too, and as of 2014 purchasers were exempted from Beijing's license plate lottery and qualified for free plates in Shanghai and Shenzhen.
Initially, a single, eponymous model was on offer.